10 Feb 2020,
LOOB Holding Sdn Bhd has appointed corporate advisors for the IPO and listing of its multimillion bubble tea business on the local stock exchange this year.
The owner and operator of the popular and fastest-growing Tealive bubble tea franchise in the country could fetch as much as RM1 billion based on previous valuation, but the final value would be largely dependent on the market and investors’ appetite for such listing.
Loob founder and CEO Bryan Loo said the company is focused on its mission and target of achieving its business strategy to be strong financially.
“There will never be the right timing in business, including when to list. Our ultimate long-term mission is to build Malaysian’s very own global lifestyle tea brand.
“We would go ahead with our listing whenever we are ready. We can’t say much for now, but it will definitely be this year. We will provide updates when appropriate,” he told The Malaysian Reserve last week.
Loo, however, declined to comment about the valuation of the company despite earlier reports suggesting the company would be worth about RM1 billion.
Source: The Malaysian Reserve
Full Article: https://themalaysianreserve.com/2020/02/10/tealives-owner-loob-holding-aims-for-ipo-this-year/
